RayzeBio, a Phase 3 biotech developing radiopharmaceutical therapies for cancer, filed on Thursday with the SEC to raise up to $100 million in an initial public offering.
The company's lead candidate, RYZ101, is designed to deliver a highly potent alpha particle radioisotope, Actinium 225, or Ac225, to tumors overexpressing SSTR2. RYZ101 consists of DOTATATE, a peptide binder, and a chelator, bound to Ac225. The use of DOTATATE as a peptide binder has been approved by the FDA for SSTR2 diagnostic imaging and therapeutic agents. RayzeBio believes that a radiopharmaceutical therapeutic, or RPT, utilizing Ac225 has the potential to provide greater efficacy over approved beta particle radioisotope Lutetium 177, or Lu177, therapies. Alpha particles can deliver up to 400 times higher energy compared to beta particles leading to double-stranded DNA breaks, which are lethal to cancer cells.
The San Diego, CA-based company was founded in 2020 and plans to list on the Nasdaq under the symbol RYZB. RayzeBio filed confidentially on February 11, 2022. J.P. Morgan, Jefferies, Evercore ISI, and Truist Securities are the joint bookrunners on the deal. No pricing terms were disclosed.
